AUDUSD Did you catch the sell ? More downside possible



Hi traders:

I was not active for about since last week, took a much needed vacation and mini-getaway.

Now I am back and seeing some good development of the price.

Here on AUDUSD, from my previous outlook and forecast from the top,
Can AUDUSD Still Drop ?


price indeed pushed down aggressively, and now is at the bottom of the lower time frame ascending structure.

This is where we can likely to see some consolidation, if price is going to push down to the next low.

Ideally we want to see a bearish continuation correction to form and complete, to give us a confirmation sell down to the next low.
But, don't be surprise if price bounce of from this LTF structure and move up again, in that case, no entry and no trade.

The downside is more ideal and better R:R to continue as the higher time frame also indicates.
snapshot

thank you

Jojo

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